Price and Non-Price Competition in Oligopoly
- A-Level, IB
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 14 Mar 2021
In this revision video we review the economics of price and non-price competition in an oligopoly.
0:00 Introduction - What is an Oligopoly? Examples: UK coffee shops, snack foods, car insurance
2:18 Key characteristics of an oligopoly market structure
4:15 Strategic interdependence in oligopoly
5:09 Main aspects of non-collusive competition in oligopoly
6:19 Causes of price wars in oligopoly
11:00 Applying game theory to price wars and price collusion within an oligopoly
14:05 Kinked demand curve and price competition in oligopoly
17:58 Will price-cutting benefits in an oligopoly?